Needham & Company Reiterates a 'Buy' on II-VI, Inc. (IIVI); Bookings Soft, But Mgmt Sees Y/O/Y Pickup In 2H Orders In Defense & Commercial Markets
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Price: $41.95 --0%
Rating Summary:
17 Buy, 6 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
17 Buy, 6 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company reiterates a 'Buy' on II-VI, Inc. (NASDAQ: IIVI) price target of $26.00.
Needham analyst said, "FQ2 results were in line with the update mgmt provided in mid-December. Bookings fell 13% y/o/y (0.92 B-T-B), as orders declined across IIVI’s four business units. However, management’s cautiously optimistic tone about a stronger 2H demand, including an expected pickup in orders in both the military and commercial markets, and reaffirmation of its full-year guidance, suggests that business bottomed in the Dec. quarter. IIVI shares, which are up 24% Y/T/D, remain attractive, in our view, trading at 15x our out-year EPS estimate, adjusting for net cash."
"We are shaving our F2H EPS est. $0.03, with our full-year EPS estimate maintained at $1.08. We are maintaining our F13 EPS estimate at $1.40 on revenues of $618M."
For an analyst ratings summary and ratings history on II-VI, Inc. click here. For more ratings news on II-VI, Inc. click here.
Shares of II-VI, Inc. closed at $22.78 yesterday.
Needham analyst said, "FQ2 results were in line with the update mgmt provided in mid-December. Bookings fell 13% y/o/y (0.92 B-T-B), as orders declined across IIVI’s four business units. However, management’s cautiously optimistic tone about a stronger 2H demand, including an expected pickup in orders in both the military and commercial markets, and reaffirmation of its full-year guidance, suggests that business bottomed in the Dec. quarter. IIVI shares, which are up 24% Y/T/D, remain attractive, in our view, trading at 15x our out-year EPS estimate, adjusting for net cash."
"We are shaving our F2H EPS est. $0.03, with our full-year EPS estimate maintained at $1.08. We are maintaining our F13 EPS estimate at $1.40 on revenues of $618M."
For an analyst ratings summary and ratings history on II-VI, Inc. click here. For more ratings news on II-VI, Inc. click here.
Shares of II-VI, Inc. closed at $22.78 yesterday.
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